Top 10 Nations to launch Overseas Businesses

Canada has been ranked amongst the top 3 destinations globally for launching overseas businesses while Switzerland takes the first position:

Rank

Nation

Corporate Tax %

1.

Switzerland

8.5%

2.

Ireland

12.5%

3.

Canada

15%

4.

Germany

15.9%

5.

The UK

17%

6.

Poland

19%

7.

The Czech Republic

19%

8.

Iceland

20%

9.

Finland

20%

10.

The US

21%

1. Switzerland – It boasts of the lowest rate of Corporate Tax in the world. Profits of companies are taxed at just 8.5% at the federal level.

2. Ireland – This nation has been transformed its economy and attracted major overseas firms owing to a low rate of corporate tax at 12.5%.

3. Canada – It has enticed infinite US firms due to the low rate of corporate tax at 15%. This is to the extent that the US had to recently decrease its tax rate by 14%.

4. Germany – Businesses here pay corporate tax on average at a rate of 15.9%. There are other trade factors that inflate the tax liabilities.

5. The UK – By April 2020, it is reducing the corporate tax rate by 2% to just 17%. The lowering of tax has stimulated overseas investment to the nation according to the UK Government.

6. Poland – The Government here is vigilant on erring firms for tax liabilities. This nation nevertheless has a lax taxation system and low rate of corporate tax at 19%.

7. Czech Republic – It is an appealing destination for investors to launch overseas businesses. The rate of corporate tax is low at 19% and the income tax is even lower at 15%.

8. Iceland – Icelandic firms pay just 20% corporate tax. It is also perceived as a leader in low enterprise taxation.

9. Finland – Taxes here tend to be steep. VAT is imposed at up to 24% on several goods and services. On the other hand, corporate tax is low and nice at just 20%.

10. The US – The corporate tax has been lowered by the Trump administration from 35% to 21%. Nevertheless, it has to be seen whether the decrease will attract investors to launch overseas businesses in the US, as quoted by the CBO.